“Despite Malpass’s departure, the World Bank Group still funds more fossil fuels than any other multilateral development bank. Ending this support must be top priority ahead of the Bank’s Spring Meetings,” said Tucker.
multilateral development bank
New Report: International public finance for fossil fuels dropped in 2021, but a rebound is likely unless key governments deliver on pledges
A report released today by Oil Change International and Friends of the Earth U.S. reveals that between 2019 and 2021 the G20 countries and multilateral development banks (MDBs) provided at least USD 55 billion per year in international public finance for fossil fuels. This is a 35% drop compared to previous years (2016-2018), but still almost twice the support provided for clean energy, which averaged only $29 billion per year.
At a Crossroads: Assessing G20 and MDB international energy finance ahead of stop funding fossils pledge deadline
This report looks at G20 country and MDB traceable international public finance for fossil fuels from 2019-2021 and finds they are still backing at least USD 55 billion per year in oil, gas, and coal projects. This is a 35% drop compared to previous years (2016-2018), but still, almost twice the support provided for clean energy, which averaged only $29 billion per year.
Past Last Call: G20 public finance institutions are still bankrolling fossil fuels
Our new report “Past Last Call: G20 public finance institutions are still bankrolling fossil fuels” looks at G20 country and MDB public finance for fossil fuels from 2018-2020 for the first time and finds they are still backing at least USD 63 billion per year in oil, gas, and coal projects.
Nearly 450 Organizations Call on Biden Administration to End Public Finance for Fossil Fuels
Over 400 organizations from 50 countries signing onto a new letter called on the Joe Biden administration to immediately end all U.S. public financing for fossil fuels, including natural gas.